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Savile Row bought by Norwegian investment fund

The Norwegian soverign wealth fund Norge Bank Investment Management has bought a majority share in Savile Row and its surrounding area for €411.6m (£327.8m) from the Anglican Church.

The fund bought a 57.8% stake in The Pollen Estate controlled area - which incorporates part of Regent Street, Conduit Street, Burlington Gardens and the area in-between including Savile Row - is owned by the Church Commissioners for England, which manages the assets of the Anglican Church.

Norge Bank Investment Management joined forces with the Crown Estate, which bought a further 6.4% of the area for €45.6m (£36.3m), to secure the deal.

The area consists of 43 properties, including stores such as Burberry on New Bond Street and Vivienne Westwood on Conduit Street.

In 2011 the Norwegian fund purchased 25% of Regent Street from the Crown Estate for €530m (£422m).

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